2220 Lakeway BlvdAustin, TX 78734

For Sale
$2,725,000

Austin Office Building - High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional two-story, Class A office building in Austin, Texas, presents a compelling value-add investment opportunity. Located at 2220 Lakeway Blvd, in the highly desirable Lakeway neighborhood, this 8,320 square foot property boasts 100% occupancy across five diverse tenants in a multi-tenant lease structure (NNN). Built in 2009 on a 1.05-acre lot, the building benefits from high visibility on Lakeway Boulevard, a major traffic corridor, and proximity to Ranch Road 620 (50,150+ vehicles per day). The property's current Net Operating Income (NOI) is $163,544, yielding a 6.00% cap rate, with below-market rents averaging $19.42 per square foot, offering significant upside potential. Situated just one mile from the Lakeway Airpark, 15 miles from downtown Austin and the Texas State Capitol, and 20 miles from Austin-Bergstrom International Airport, this location provides unparalleled convenience and accessibility. The surrounding area features an average household income exceeding $203,600 within a one-mile radius. The asking price is $2,725,000 ($327.52 per square foot). Rent bumps are included in the lease agreements. This property is ideal for investors seeking strong cash flow and future appreciation in one of Austin's fastest-growing markets.

Highlights

  • 100% leased, five-tenant Class A office building with diverse tenant mix.
  • Below-market rents averaging $19.42/SF offer significant value-add potential.
  • Prime location: 15 miles to Downtown Austin, 20 miles to Austin-Bergstrom International Airport, and one mile to Lakeway Airpark.
  • High visibility on Lakeway Boulevard, one mile from Ranch Road 620 (50,150+ VPD), in a high-income area ($203,600+ average household income within one mile).
  • 8,320 SF building on a 1.05-acre lot, built in 2009; $2,725,000 asking price ($327.52/SF); $163,544 NOI, 6.00% cap rate.

Property Details for 2220 Lakeway Blvd

Property type
Other office properties, Medical offices
Square Feet
8,320 SF
Class
A
Year Built
2009
Buildings
1
Stories
2
Lot Size (sq. ft)
45,738 SF
Units
5

Location Insight

City
Austin
County
Travis
State
Texas
Latitude
30.357397296802
Longitude
-97.979983153134
2220 Lakeway Blvd, Austin, Texas

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2220 Lakeway Blvd
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